Nothing happened today.
It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts down 17bp, FixedResets flat and DeemedRetractibles up 13bp. Volatility was minimal. Volume was low.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3757 % | 2,634.1 |
| FixedFloater | 4.17 % | 3.40 % | 27,572 | 18.60 | 1 | 0.0000 % | 4,163.9 |
| Floater | 2.91 % | 3.04 % | 45,457 | 19.59 | 4 | 0.3757 % | 2,723.9 |
| OpRet | 4.01 % | -2.24 % | 73,860 | 0.08 | 1 | 0.2749 % | 2,723.2 |
| SplitShare | 4.23 % | 3.82 % | 58,911 | 3.97 | 6 | 0.0397 % | 3,132.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2749 % | 2,490.1 |
| Perpetual-Premium | 5.49 % | -1.52 % | 82,712 | 0.08 | 19 | -0.1012 % | 2,433.6 |
| Perpetual-Discount | 5.24 % | 5.20 % | 113,988 | 15.15 | 17 | -0.1738 % | 2,586.3 |
| FixedReset | 4.29 % | 3.56 % | 193,251 | 8.54 | 75 | 0.0005 % | 2,560.3 |
| Deemed-Retractible | 4.99 % | -0.44 % | 111,433 | 0.22 | 42 | 0.1320 % | 2,553.9 |
| FloatingReset | 2.65 % | 2.04 % | 77,289 | 3.77 | 6 | 0.0197 % | 2,522.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| FTS.PR.J | Perpetual-Discount | -1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-11 Maturity Price : 23.68 Evaluated at bid price : 24.05 Bid-YTW : 5.01 % |
| MFC.PR.K | FixedReset | -1.15 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.93 Bid-YTW : 3.83 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.E | FixedReset | 278,811 | Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-19 Maturity Price : 25.00 Evaluated at bid price : 25.34 Bid-YTW : 0.47 % |
| ENB.PR.P | FixedReset | 169,263 | Nesbitt crossed blocks of 100,000 and 50,000, both at 24.35. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-11 Maturity Price : 22.96 Evaluated at bid price : 24.35 Bid-YTW : 4.02 % |
| TD.PF.B | FixedReset | 118,000 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-11 Maturity Price : 23.17 Evaluated at bid price : 25.02 Bid-YTW : 3.60 % |
| RY.PR.I | FixedReset | 75,717 | Scotia crossed blocks of 33,500 and 28,000, both at 25.32. YTW SCENARIO Maturity Type : Call Maturity Date : 2019-02-24 Maturity Price : 25.00 Evaluated at bid price : 25.41 Bid-YTW : 3.11 % |
| MFC.PR.K | FixedReset | 45,761 | RBC bought 19,200 from National at 24.95. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.93 Bid-YTW : 3.83 % |
| TRP.PR.B | FixedReset | 27,222 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-11 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 3.53 % |
| There were 19 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| PVS.PR.C | SplitShare | Quote: 26.13 – 26.95 Spot Rate : 0.8200 Average : 0.5354 YTW SCENARIO |
| BAM.PR.K | Floater | Quote: 17.30 – 17.90 Spot Rate : 0.6000 Average : 0.3986 YTW SCENARIO |
| POW.PR.C | Perpetual-Premium | Quote: 25.21 – 25.50 Spot Rate : 0.2900 Average : 0.1830 YTW SCENARIO |
| FTS.PR.J | Perpetual-Discount | Quote: 24.05 – 24.50 Spot Rate : 0.4500 Average : 0.3710 YTW SCENARIO |
| ENB.PR.J | FixedReset | Quote: 25.24 – 25.49 Spot Rate : 0.2500 Average : 0.1718 YTW SCENARIO |
| PWF.PR.P | FixedReset | Quote: 23.20 – 23.49 Spot Rate : 0.2900 Average : 0.2194 YTW SCENARIO |